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    Canada’s main index overshadowed by the U.S. S&P 500

    In August, although Canada’s main index remains overshadowed by the U.S. S&P 500’s searing performance, it had its fifth straight month of gains. 

    Compared to the S&P500 index, which is now up 9.74 per cent for the year, the S&P TSX Composite Index stands at 16,514 points. 

    Brian Belski, a veteran analyst at BMO Capital Markets, said: “With the strong momentum and wherewithal exhibited by stocks, companies, and investors since the market lows, we believe these more challenged sectors, particularly Financials, are likely to gain momentum and add fuel to the TSX price performance over the next 12 months, we expect financials will eventually participate in the recovery with much higher conviction than is currently priced in, and when it does, the TSX is likely to see strong outperformance and hit new all-time highs.”

    Read more from the News Source HERE